Oppenheimer Asset Management Inc. Purchases Shares of 14,337 Astera Labs, Inc. (NASDAQ:ALAB)

Oppenheimer Asset Management Inc. acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,337 shares of the company's stock, valued at approximately $751,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the 3rd quarter worth approximately $26,000. US Bancorp DE purchased a new position in shares of Astera Labs in the 3rd quarter worth approximately $46,000. Allworth Financial LP boosted its stake in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after buying an additional 891 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Astera Labs in the 2nd quarter worth approximately $74,000. Finally, Venturi Wealth Management LLC lifted its stake in Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock valued at $126,000 after purchasing an additional 500 shares during the last quarter.

Insider Transactions at Astera Labs

In other news, Director Manuel Alba sold 12,000 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $94.74, for a total value of $1,136,880.00. Following the transaction, the director now owns 483,863 shares of the company's stock, valued at approximately $45,841,180.62. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jack R. Lazar sold 2,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now directly owns 135,000 shares in the company, valued at approximately $9,443,250. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,408,458 shares of company stock valued at $113,124,841.

Astera Labs Trading Up 5.3 %

Shares of NASDAQ:ALAB traded up $4.80 during trading on Tuesday, hitting $95.18. 6,022,094 shares of the company were exchanged, compared to its average volume of 3,084,678. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $100.09. The stock has a 50 day moving average of $64.93 and a 200 day moving average of $59.10.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analysts' expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company's revenue was up 47.1% on a year-over-year basis. As a group, analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Barclays upped their price objective on Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Craig Hallum upped their price objective on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Citigroup assumed coverage on Astera Labs in a research note on Monday. They issued a "buy" rating and a $120.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $94.67.

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.